Ultimate magazine theme for WordPress.

David Chaum Crypto Pioneer Presents ELIXXIR Project

12,627

David Chaum One of the very first Crypto Celebrities

David Chaum have been working on ideas related to cryptocurrencies since the 1980s. He gained fame constructing a digital currency long before Bitcoin. Now he is introducing a new platform, Elixxir, at Consensus in Singapore. He said Elixxir will be able to process thousands of transactions per second.

David Chaum, as the inventor of DC (Digital Cash), is now ready to unleash a new platform Elixxir. However, he told the Wall Street Journal why his other 1990s invention, DigiCash. Have never been used due to a lack of knowledge about the Internet. 

Chaum, is also well-known for his cryptography and secure election systems expertise. He founded the International Association for Cryptologic Research and the Voting Systems Institute.

According to the Wall Street Journal, Chaum’s Elixxir platform produces blocks first and then sees them filled up as transactions are recorded, cutting down the processing time.

Chaum says the overall system processes and stores less data, which lessens potential security vulnerabilities and slashes the amount of required energy.

Elixxir Project Decentralized Dream

press release says Elixxir was the product of almost two years of behind-the-scenes development.

Chaum officially unveiled the platform at CoinDesk Consensus Singapore. At the conference, he shared a technical breakdown of Elixxir and invited people to participate in the platform’s community.

Blockchain still need some essential sollutions according to Chaum. Focusing to make the “critical leap” from “store-of-value to consumer-scale payment and messaging.” He thinks Elixxir can solve many of these problems.

Overall, the Elixxir blockchain’s transaction processing speed essentially enables its “use as a smartphone app.”

In an interview, Chaum heralded the breakthroughs as a “game changer”, and asserted it was now possible to “actually meet the requirements to go to consumer scale.” He says Elixxir will be released as an open-source project.

 

Leave A Reply

The team of DiaryCoin would like to keep you updated with the lastest crypto-news

Would you like to?